Envestnet Portfolio Solutions Inc. Has $10.48 Million Holdings in International Business Machines Co. (NYSE:IBM)

Envestnet Portfolio Solutions Inc. lessened its stake in International Business Machines Co. (NYSE:IBM) by 4.9% in the fourth quarter, Holdings Channel reports. The firm owned 47,651 shares of the technology company’s stock after selling 2,471 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in International Business Machines were worth $10,475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. raised its stake in International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares in the last quarter. Blue Zone Wealth Advisors LLC acquired a new position in International Business Machines in the fourth quarter valued at about $242,000. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines in the fourth quarter valued at about $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines during the fourth quarter worth about $373,000. Finally, Truist Financial Corp raised its stake in International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after acquiring an additional 49,591 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Stock Performance

Shares of IBM stock opened at $248.15 on Monday. The business’s 50 day simple moving average is $244.23 and its 200 day simple moving average is $228.47. International Business Machines Co. has a one year low of $162.62 and a one year high of $266.45. The stock has a market capitalization of $230.10 billion, a PE ratio of 38.71, a PEG ratio of 5.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.00.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. As a group, research analysts forecast that International Business Machines Co. will post 10.78 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IBM. UBS Group boosted their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, January 14th. Jefferies Financial Group boosted their target price on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. BMO Capital Markets boosted their target price on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Finally, Wedbush assumed coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.